PTTEP Secures Full Control of MTJDA Block A-18 to Enhance Thailand's Energy Security

PTT Exploration and Production (PTTEP) has acquired full control of the Block A-18 offshore gas block in the Malaysia-Thailand Joint Development Area (MTJDA) for $450m. This move will enhance Thailand's energy security and support PTTEP's growth trajectory. The block is crucial for electricity generation in southern Thailand and currently produces 600 million standard cubic feet of natural gas per day. PTTEP will carry out development of additional production wells and gas pipelines to ensure a stable and reliable gas supply.

PTT Exploration and Production (PTTEP) has recently secured full ownership of Block A-18 in the Malaysia-Thailand Joint Development Area (MTJDA) for $450 million. This strategic acquisition aims to bolster Thailand's energy security and support PTTEP's long-term growth trajectory. The block, which produces approximately 600 million standard cubic feet of natural gas per day, is critical for electricity generation in southern Thailand.

The acquisition was finalized on July 25, 2025, with PTTEP Joint Development SG PTE. LTD., a subsidiary of PTTEP, purchasing 100% of the outstanding shares of Hess International Oil Corporation. This transaction aligns with PTTEP's strategy to enhance energy security and strengthen its market position [2].

PTTEP's Chief Executive Officer, Montri Rawanchaikul, expressed satisfaction with the deal, stating that it further expands PTTEP's operations in the MTJDA, which is recognized for its petroleum potential and strategic significance to Thailand's energy security [1].

The MTJDA, located in the southern part of the Gulf of Thailand, covers 7,250 sq km (2,800 sq miles) and is a key source of natural gas and condensate for Thailand and Malaysia. PTTEP currently holds a 50% stake in Block B-17-01 within the MTJDA, which produces approximately 300 MMSCFD of natural gas [2].

Following the acquisition, PTTEP plans to develop additional production wells and gas pipelines to ensure a stable and reliable gas supply. This move is particularly significant given Chevron's global restructuring and potential workforce reductions, which could impact its ability to maintain and develop its existing assets [1].

References:
[1] https://www.reuters.com/business/energy/thailands-pttep-buys-full-control-offshore-gas-block-chevron-450-million-2025-07-26/
[2] https://www.kaohooninternational.com/markets/562116